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Equity from Endowment Mortgage

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(@fatimahauck)
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Joined: 5 years ago
Posts: 1
Topic starter  

My husband has had a Trust Deed since 2015. This continues till June 2020. The last year is supposedly to cover his share of the mortgage. He pays £200 per month to a company in Manchester. Our endowment mortgage matures next month and his trustee is set to take half the proceedings. I will then be left to cover the loss or lose my house after 25 years. Has anyone any idea what to do? I called 7 Edinburgh solicitors last week and none knew how to help. The Deed is in his name only and I have paid all mortgage payments and endowment premiums myself. His signature is on the mortgage which is what the main issue is. I see by other forum posts he maybe should have had a second opinion at the start of the trust deed, but now its well past that point.


   
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TDA (Debt Adviser)
(@tda-debt-adviser)
Illustrious Member
Joined: 16 years ago
Posts: 13594
 

Welcome to the trust deed forum fatimahauck.

I'm hoping you could answer a couple of questions so that we can understand a little more about this situation.

You've mentioned the joint mortgage, but is your husband also legally named as a joint owner of the property and on the endowment policy?

Was the trustee made aware about this endowment policy when your husband entered the trust deed?

Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds


   
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